On July 11, the Ministry of Investment, Industry, and Trade of Uzbekistan reported that Uzbekistan and Azerbaijan aim to increase their mutual trade turnover to $1 billion, up from just over $230 million by the end of 2023. This agreement was reached during the 13th session of the Joint Intergovernmental Commission (JIC) on cooperation held in Bukhara, chaired by Uzbek Minister of Investment, Industry, and Trade Laziz Kudratov and Azerbaijani Economy Minister Mikayil Jabbarov.

The parties discussed various measures to reach the $1 billion trade goal, including import substitution based on an analysis of demanded goods, regular trade and business missions, and mutual exhibitions of national products in major cities. They also considered projects related to the production of silk products, the creation of a textile cluster, the construction of an international school, and the organization of food production.

New promising areas of cooperation were also outlined in sectors such as mechanical engineering, electrical engineering, construction materials, energy, petrochemicals, agriculture, and tourism. "Special attention was paid to the issues of diversification of transport corridors and the creation of logistics infrastructure to increase the volume of bilateral and transit cargo transportation," the report further stated.